: PacWest stock rockets toward a record rally, after suffering biggest 6-day selloff in its 20-year history
What a difference a day makes, as the shares of PacWest Bancorp PACWskyrocketed toward a record one-day gain Friday, after closing the previous session at a record low. The stock, which has already been halted six times for volatility since the open, powered up 77.9% in midday trading, which would surpass the current record gain on a closing basis of 33.9% on March 14, 2023. On Thursday, the stock had closed at a record low of $3.17, after plunging 71.4% amid a six-day losing streak. That was the longest losing streak since the six-day streak that ended March 13, 2023, as the regional banking crisis began, and the worst six-day performance since the stock went public in June 2000. Meanwhile, Friday’s rally has retraced less than one-third (31.1%) of that six-day selloff.
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